May 29, 2020
CBRE handled a pair of industrial sales totaling more than $100 million in Colorado. The larger of the deals involved the $85.7 million sale of Enterprise Business Center Building Six in Denver (pictured), a transaction that ranks among the metro market’s largest for a single-building industrial trade.
The 647,483-square-foot warehouse distribution building is located at 3980 Central Park Blvd., and fully occupied by Beverage Distributors Co. LLC. CBRE’s Tyler Carner, Jeremy Ballenger, Jim Bolt, Mike Winn and Jessica Ostermick represented the seller, United Properties. The buyer was an investor advised by Zurich Alternative Asset Management, LLC (ZAAM) of New York.
CBRE’s Carner says, “Enterprise Business Center Building Six offered a true infill distribution property of scale, with state-of-the-art amenities and a long-term tenant in a recession-proof industry. Getting this deal across the finish line despite a global pandemic affirms the strong appetite among institutional capital for Denver industrial product.”
The second deal was a $14.6 million sale of a nearly 100,000-square-foot multi-tenant distribution center at 2640 Zeppelin Rd. in Colorado Springs. CBRE’s Carner, Ballenger, Bolt and Ostermick represented the seller, Scannell Properties. The buyer was Walnut Creek, CA-based Nearon Enterprises.
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